Neil Irwin takes an optimist's view toward recent data that show a slowing rate of increase for the price of housing in many parts of the country: "the new data offer hints that a disastrous era for housing may be ending."
Neil Irwin analyzes recent data from the S.&P./Case-Shiller home price index, which "showed prices rose 8.1 percent in 20 major cities in the 12 months ended in June, the lowest rate of increase since 2012."
While some might see some reason for concern in the news that the housing market might be slowing, Irwin makes the point that maybe the new data is a sign that national forces will no longer have such a powerful and irrational influence on the housing market: "Home prices can’t rise faster than incomes forever. So if the trend of the last few months continues, and the rate of price increases continues to come down to earth, it will be a sign that maybe, just maybe, we’ve put this long, horrible boom-bust cycle behind us."
FULL STORY: Why a Slowdown in Housing Prices Is Great News
Institutional Investors Gaining a Larger Footprint in the Housing Market, Report Says
The locations with the fastest growing populations are seeing the most dramatic increase in investor-owned single-family housing rentals.
Survey Says: U.S. Homebuyers, Especially Gen Z, Want Walkable Neighborhoods
Generation Z is leading a new push toward walkable communities, according to a recent survey by the National Association of Realtors.
Wall Street Suddenly Buying Fewer Single-Family Homes
Rising interest rates are having a major effect in the housing market—including on the large institutional investors who spent much of the past couple of years buying up single-family homes.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
EV Infrastructure Booming in Suburbs, Cities Lag Behind
A lack of access to charging infrastructure is holding back EV adoption in many US cities.
Seattle Road Safety Advocates Say Transportation Levy Perpetuates Car-Centric Status Quo
Critics of a proposed $1.3 billion transportation levy say the package isn’t enough to keep up with inflation and rising costs and fails to support a shift away from car-oriented infrastructure.
Appeals Court: California Emissions Standards Upheld
The U.S. Environmental Protection Agency and the California Air Resources Board, the nation's two most powerful environmental regulatory agencies, won an important round in federal court last week. But the emissions standards battle may not be over.
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